From the Asbury Park Press:
Nevada ready to take jobs away from New Jersey
Just as Jersey politicians make another run at creating a unified state research university, comes word the mess they’ve already made could render any such effort useless. Senate President Dick Codey and Assembly Speaker Joe Roberts moved to name a bipartisan task force to sharpen the state’s edge in health science technology, etc.
Likely it will result in another impossible jumble benefiting only politically connected lawyers, consultants and the usual hangers-on while costing overburdened taxpayers plenty. The argument for, of course, is high-paying high-tech jobs.
Nevada wants to take those jobs away from us. A raid on California convinced 19 high-tech firms to relocate to Nevada, and they’ve brought in 42 firms from elsewhere. The Nevada Development Authority, a nonprofit group, moved in on its Golden State neighbor when California raised its business tax while workers’ compensation premiums kept rising.
The authority targeted us when Gov. Corzine showed he needed a sales tax hike so badly he was willing to suffer through a government shutdown in July. That was a sign New Jersey’s business taxes were too high to raise further, said Somer Hollingsworth of the Nevada group:
“You guys have a problem. We want to take advantage of it.”
…
It gets worse: New U.S. census figures show that in 2005 New Jersey mortgage holders paid the highest median housing costs in the nation — $1,938. That includes the mortgage as well as taxes, insurance and fees. Tell that to a Jersey pol and he will respond with the usual, “Yeah, but our incomes are the highest in the nation.” It’s misleading.Our median income — $61,700 — was 33 percent higher that the national figure, $46,200. But here’s what the public trough swillers leave out: Garden State homeowners have a monthly housing cost 50 percent higher than the national median. No reasonable explanation for that, except too much government and so much corruption.
My sister-in-law used to work for Medco. Guess where they moved to?
From the Record:
N.J. fighting to keep jobs from leaving
St. Louis held a buffet at Shea Stadium during a Cardinals-Mets game.
In July, Pittsburgh offered a two-day city tour and tickets to the All-Star Game.
Louisiana, Mississippi and Pennsylvania each threw a party hosted by their respective governors.
All the events were designed to wine and dine corporate executives in the increasingly heated contest among states to lure new businesses to their home turf, and to keep old ones.
“It’s the second war of the states,” said John Boyd, a Princeton-based consultant who helps companies relocate. “There’s not a day that goes by that we are not invited to some type of reception.”
…
But as Governor Corzine begins to implement his economic plan, it’s unclear whether New Jersey has the firepower to compete.
Saddled with a heavy tax burden, a high cost of living and extensive red tape, New Jersey has long carried the reputation of being unfriendly to business. And few know that better than Corzine, the former head of Goldman Sachs, who has made economic growth and job creation a top priority.
His plan contains a slew of proposals to correct the state’s deficiencies, including a business hot line, a marketing campaign and an Office of Economic Growth.
…
New Jersey is burdened with costs that even astute government leaders can’t change: a heavily unionized workforce, high wage rates, expensive property costs and a significant tax burden.
What’s more, its poor financial position is another hindrance, say business leaders: While the state wrestles with a budget deficit, more than half its competitors will have a surplus in 2007, according to the Center on Budget and Policy Priorities, a Washington-based think tank.
That’s money available for incentives, economic development staff and marketing.
“It’s a lot easier if you are in a state that has surpluses to justify and rationalize spending on business development,” Verplank said.
From the Record:
N.J. makes bad first impression, study finds
The rapid rise of the global economy is reshaping the way New Jersey companies do business. This weekly column explores the growing ties between Garden State businesses and the rest of the world.
New Jersey to the world: Does anybody like us?
Not too many, according to a new study.
The Anholt State Brands Index placed New Jersey last in a ranking of which states are the most recognizable and impressive.
British market researcher Simon Anholt and Seattle-based Global Market Insite Inc. surveyed 21,410 people in 16 countries, 42 percent of whom were in the U.S.
They asked participants in the online survey their perceptions of states based on six criteria: general awareness and perceived importance; physical aspects; job and education opportunities; excitement available; perceived ease of living there; and the warmth and tolerance of the residents.
California topped the list, followed by Florida, Hawaii, New York and Washington.
Foreign participants ranked New Jersey the 50th most exciting state, the 46th most attractive and the 42nd best climate. The state was ranked the 46th most welcoming.
I always rooted for the underdog.
I love NJ. Just needs a kick in the pants.
A ‘political enema’ would probably be more effective.
jb
Sell,Sell,Sell. To whom?????
Well, this is what NJ voters got for themselves.
The next recession, whenever it comes, will be extremely ugly here.
How is the govt. going to pay the union workers if businesses choose to relocate somewhere else?
‘this is your hometown’.
-bruce
Curiousd.
One of my favorites!! Great call!! It pains me to see our “leaders” pissing it away. However, I wonder if this is more appropriate;
My city in Ruins.
Step 1: consult http://www.taxfoundation.org/taxdata/show/1371.html
Step 2: relocate from hightaxland to one of the top-ten biz-friendly list
Step 3: Profit!
(PA is #16, DE is #8)
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